Washington Imposes New Sanctions on Iranian Oil Exports, Targeting CCP-backed Companies

On September 29th, the US government announced sanctions against companies involved in petroleum trade with Iran, including five firms from Communist China. According to the US Secretary of State Antony Blinken, two CCP-controlled companies, Zhonggu Storage and Transportation Co. Ltd. and WS Shipping Co. Ltd., were sanctioned for operating a commercial storage facility for Iranian crude oil and managing the shipment of Teheran’s petroleum products.

Moreover, the sanctions targeted brokers and distributors of Iranian crude oil in the United Arab Emirates, Hong Kong, and India who sell hundreds of millions of dollars of petrochemical and petroleum products. Brian Nelson, the Treasury’s Under Secretary of Treasury Department for terrorism and financial intelligence, said in a statement that Washington would continue to enforce the sanctions on the illegal sale of Teheran’s petroleum and petrochemical products until Iran agrees to resume the Joint Comprehensive Plan of Action, commonly known as the Iran nuclear deal.

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